SEC Gets Last-Minute Advice on IFRS Roadmap

The Securities and Exchange Commission has received just over 200 comment letters since it posted its proposed roadmap for transitioning to International Financial Reporting Standards on its website in 2008, and it’s now receiving some extra suggestions ahead of its deliberations on the roadmap on Wednesday.

“As the SEC finalizes the roadmap, we believe it important to provide policymakers with the key elements of what U.S. investors see as fundamental components of such a plan,” said Sandra Peters, head of financial reporting policy at CFA Institute, which administers the Chartered Financial Analyst designation. “An overwhelming number of CFA Institute members support the premise of a single set of high-quality, understandable and enforceable global accounting standards. That said, events of the last 18 months have highlighted several important challenges to this premise.”